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How many years will take if the first saving is made a year

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Problem 1: Humaira must have RM80,000 in order to buy a house. She plans to save RM5.000 per year in her savings account with XYZ Bank that pays 12% interest rate compounded quarterly. How many years will it take if the first saving is made a year from today? Do interpolation.

Reference no: EM132939091

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